ENDOWMENT TOTAL
June 30 , 1970 ................................................. $ 125,000 June 30 , 1975 ................................................. $ 202,000 June 30 , 1980 ................................................. $ 478,000 June 30 , 1985 ............................................. $ 1,099,000 June 30 , 1990 ............................................. $ 3,549,000 June 30 , 1995 ............................................. $ 1,734,000 June 30 , 2000 ............................................. $ 5,182,000 June 30 , 2005 ........................................... $ 10,472,000 June 30 , 2010 ........................................... $ 15,064,000 June 30 , 2012 ........................................... $ 18,846,000 June 30 , 2013 ........................................... $ 21,038,000 June 30 , 2014 ........................................... $ 27,218,000 June 30 , 2015 ........................................... $ 30,090,000 June 30 , 2016 ........................................... $ 32,544,000 June 30 , 2017 ............................................ $ 37,399,000
ENDOWMENT STATUS ( as of June 30 , 2017 ) Beginning Balance ................................. $ 32,544,000 New Gifts ..................................................... $ 2,435,000 Investment Return ................................... $ 3,645,000 Less Draw for Scholarships ................. ($ 1,225,000 ) Ending Balance ........................................ $ 37,399,000
Gifts to Fordham Prep ’ s Endowment are investments in the school ’ s future and the futures of the young men who study there . Earnings from the Prep ’ s endowment lend support annually for student scholarships and faculty research and training . While contributions in any amount are most welcome , the creation of a named endowed fund affords the donor an opportunity to establish a permanent memorial bearing his or her name or the name of a friend or family member in perpetuity . All gifts to the endowment are placed in the Fordham Prep Formation Foundation Trust . The trust is charged with stewarding Fordham Prep ' s future endowment and ensuring the school ' s financial stability .
An endowment held by a non-profit organization such as Fordham Prep consists of funds that have been donated usually with a specific objective or purpose and then invested to generate income in perpetuity . Thus , the donation provides a long-lasting benefit to the organization , rather than if it were spent all at one time . Gifts of this type are classified as “ pure ” or “ restricted ” endowments , meaning that they must be used as originally intended / specified by the donor .
A benefactor may choose to support student scholarships . Another might fund a special program ( e . g ., a monthly guest speaker ’ s forum , faculty development , a specific need identified by the President ) or a student prize ( e . g ., to recognize outstanding extracurricular leadership or exceptional sportsmanship ). Most endowment funds given to the Prep have been earmarked for financial aid to students .
The funds that have been donated are not meant to be spent — nor are all of the earnings from the invested principal . A portion of the earnings is usually added to the principal ; this is done to augment the endowment and to compensate for future inflation and possible economic downturns . The spendable income of the earnings is used for the purpose that the donor originally specified .
Only endowment income can be spent . By law , the principal must remain intact in perpetuity .
Endowment Report 2017
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